Canary Capital Submits S-1 Form For US Spot CRO ETF With Crypto.com As Custodian And Liquidity Provider
In Brief
Canary Capital Group, has filed an S-1 registration statement with the US SEC to launch the first spot CRO ETF in the United States.
Digital asset investment firm, Canary Capital Group, has filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) to launch the first spot CRO exchange-traded fund (ETF) in the United States. The fund is intended to offer US investors direct access to the price movements of CRO, the native token of the Cronos blockchain. Crypto.com is designated to act as both the custodian and liquidity provider for the ETF.
Eric Anziani, President and COO of Crypto.com, stated in a written statement that ETFs have proven to be a valuable tool for expanding investor involvement in the cryptocurrency space while facilitating the integration of digital and traditional financial systems. He expressed enthusiasm about the progress represented by Canary Capital’s initiative, which aims to provide all US investors the chance to access CRO through an ETF.
Cronos is a Layer 1 blockchain network associated with the cryptocurrency exchange Crypto.com, developed to facilitate interoperability with the Ethereum and Cosmos ecosystems. It supports a range of decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and various Web3 projects.
According to DefiLlama data, the network’s total value locked (TVL) is approximately $440 million, with VVS Finance standing out as its leading DeFi platform for token swaps and yield farming. The native CRO token currently holds a market capitalization near $2.6 billion.
Canary Capital And Crypto.com Introduce CRO Trust
This development comes after the recent collaboration between Canary Capital and Crypto.com to launch the Canary CRO Trust, marking the first private investment vehicle focused on CRO available to US accredited investors.
Introduced last week, the Canary CRO Trust provides regulated exposure to CRO, the native token of the Cronos blockchain, through a private trust structure rather than a publicly traded ETF. Its purpose is to mirror the market price of CRO, offering US accredited investors a clear and transparent way to participate in the Cronos ecosystem via a securities-based product.
The trust is exclusively accessible to accredited investors, such as high-net-worth individuals and institutional entities, and is not open to the general public. It is intended to deliver a compliant and streamlined option for institutional-level exposure to digital assets, particularly for those aiming to diversify their portfolios with Cronos blockchain assets without the need to directly manage or hold cryptocurrencies.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
